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Property profile & analytics
OFF-MARKET
Estimated value
$18,000,000
Investment properties
108 State St Schenectady, NY 12305-1764
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US63-6114034
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2019
Total area
136,722 SF
Lot
1.64 ac (71,438 SF)
Zoning code
05 - COMMERCIAL
APN
421500 39.71-1-11.11
UPID
US63-6114034
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Lofts at Frog Alley Apartment Complex
-
Jahnel Group | Software Company (Bike/Boat/Book/etc) Store Corporate Office
-
Mill Artisan District Events Hotel & Motel Resort
-
Frog Alley Brewing. Production Facility Brewery & Distillery
-
Annabel's Pizza Co. Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$18.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.73M
Blend (final)
Blend
$18.00M
Owner & transaction history
Mill Lane Apartments LLC · 2 yrs held
Mill Lane Apartments LLC
since 2024
Last sale
$18.0M
7 recorded transactions
Zoning & alternative use
05 - COMMERCIAL · Schenectady, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$20.4M
+114.2%
Office building
$13.5M
+42.0%
Auto repair, garage
$13.3M
+39.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Schenectady submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Schenectady submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$18,000,000
ML approach
$18,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$20,435,000
Change: +114% · Conversion: Difficult
OFFICE BUILDING
$13,545,000
Change: +42% · Conversion: Easy
AUTO REPAIR, GARAGE
$13,260,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$18.00M
Range $16.20M – $19.80M · ±10% · vs last sale $18.00M (Feb 7 2024)
Last sale anchor
$18.00M
Feb 7 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$132 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$21,168,600
Assessed 2023
Previous assessed
$21,168,600
+0.0% YoY
Assessed land
$141,500
Assessed improvement
$21,027,100
Land market value
$179,114
Improvement market value
$26,616,582
Total market value
$26,795,696
Applied tax rate
421,500.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2019
Heating
NONE
Cooling
CENTRAL
Stories
6
Total area
136,722 SF
Lot
1.64 ac (71,438 SF)
Zoning code
05 - COMMERCIAL
APN
421500 39.71-1-11.11
UPID
US63-6114034
Jurisdiction
SCHENECTADY
Zoning & alternative use
05 - COMMERCIAL · Schenectady, NY
Zoning 05 - COMMERCIAL · permitted uses
05 - COMMERCIAL · Schenectady, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Schenectady. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$20.4M
OFFICE BUILDING
Est. value
$13.5M
AUTO REPAIR, GARAGE
Est. value
$13.3M
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Heating
NONE
Cooling
Yes
Stories
6
Lot
1.64 ac
Current owner
From public records · entity-resolved
Mill Lane Apartments LLC
Entity
Mailing address
323 CLINTON ST, SCHENECTADY, NY 12305-2405
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2024
—
Mill Lane Apartments LLC
Mill Lane Apartments LLC
Intrafamily Transfer
related
$4,200,000 · Pioneer Bank
Apr 30, 2020
—
Mill Lane Apartments LLC
—
Deed
related
$9,732,309 · Bbl Construction Services LLC
Jan 23, 2020
—
Mill Lane Apartments LLC
—
Deed
related
$9,732,309 · Bbl Construction Services LLC
Oct 11, 2018
$5,000
Mill Lane Apts LLC
City Of Schenectady
Quit Claim Deed
related
—
Oct 11, 2018
—
Mill Lane Apartments LLC
City Of Schenectady
Grant Deed
related
$14,880,000 · Pioneer Svgs Bk
Oct 27, 2009
$2,104,000
Green Oak Stockade View Apartm
10 Mill Lane Apts LLC
Grant Deed
$2,250,000 · First Niagara Fndg
Dec 13, 2007
$1,680,005
10 Mill Lane Apts LLC
Referee Of Schenectady County
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
$1,500,000 · Rait Ptshp
Jan 23, 2007
—
10 Mill Lake LLC
South Ferry Assoc
Warranty Deed
related
—
—
—
Green Oak Stockade View Apartm
—
Deed Of Trust
related
$541,864 · National Bk/coxsackie
—
—
Green Oak Stockade View Apartm
—
Deed Of Trust
related
$2,550,000 · Hsbc
—
—
Mill Lane Apartments LLC
—
Deed Of Trust
related
$9,732,309 · Bbl Construction Services LLC
—
—
Mill Lane Apartments LLC
—
Loan Modification
related
$9,732,309 · Bbl Construction Services LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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